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Updated about 10 years ago on . Most recent reply presented by

Kellie Holly-Wood's profile image
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Kellie Holly-Wood
  • Real Estate Investor
  • from Imperial, California
  • Member since Aug 25, 2014
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Kellie Holly-Wood
  • Real Estate Investor
  • from Imperial, California
  • Member since Aug 25, 2014
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Kellie Holly-Wood
  • Real Estate Investor
  • Imperial, CA
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Tax, SDIRAs & Cost Segregation

Joint tenancy or tenancy in common?

Kellie Holly-Wood
  • Real Estate Investor
  • Imperial, CA
Posted
I'm purchasing a MF property with a co-worker. We have a 50-50 split, but the title company is asking whether we want co-ownership interest as joint tenancy or tenancy in common. Which one is better and why?
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Brandon Hall
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Brandon Hall
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Brandon Hall
  • CPA
  • Raleigh, NC
Replied

Both have their pros and cons but for your situation, it sounds like you will be much better off forming an LLC with a 50-50 split, then putting the title of the property in the name of the LLC.

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